Legacy Housing (NASDAQ:LEGH) Trading Down 5% – Here’s What Happened

Shares of Legacy Housing Co. (NASDAQ:LEGH) traded down 5% on Tuesday . The stock traded as low as $25.80 and last traded at $26.41. 54,283 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 77,517 shares. The stock had previously closed at $27.79.

Legacy Housing Stock Performance

The stock has a market cap of $642.12 million, a price-to-earnings ratio of 12.25 and a beta of 1.09. The company’s 50 day simple moving average is $25.25 and its 200 day simple moving average is $25.99.

Insider Buying and Selling at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 17,300 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $25.96, for a total transaction of $449,108.00. Following the completion of the sale, the chairman now directly owns 473,922 shares of the company’s stock, valued at $12,303,015.12. This represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 106,152 shares of company stock valued at $2,680,332. 30.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Legacy Housing by 17.8% during the 3rd quarter. Geode Capital Management LLC now owns 269,325 shares of the company’s stock worth $7,367,000 after buying an additional 40,729 shares during the period. Barclays PLC raised its position in Legacy Housing by 294.1% during the third quarter. Barclays PLC now owns 17,338 shares of the company’s stock valued at $474,000 after buying an additional 12,939 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Legacy Housing by 193.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 91,453 shares of the company’s stock worth $2,501,000 after acquiring an additional 60,292 shares during the period. Cerity Partners LLC grew its stake in Legacy Housing by 141.3% during the 3rd quarter. Cerity Partners LLC now owns 178,276 shares of the company’s stock valued at $4,876,000 after acquiring an additional 104,386 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Legacy Housing by 17.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company’s stock valued at $153,000 after purchasing an additional 848 shares during the period. Institutional investors own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.